Indian economy likely to record double digit growth in FY22: ASSOCHAM
ECONOMY & POLICY

Indian economy likely to record double digit growth in FY22: ASSOCHAM

According to an ASSOCHAM assessment, consumer confidence is improving in several key sectors of the economy, including contact services like hospitality, and construction and renovation activities have been picking up for the past few months, resulting in the return of migrant workers seeking gainful employment.

Despite its low starting point, the Indian economy is expected to grow by double digits in the fiscal year 2021-22, keeping the catch-up mode alive. The recovery seen in the first quarter of this fiscal year should become a long-term trend.

The overall situation concerning the pandemic should improve further as the government, along with the state governments of Kerala and Maharashtra, work together to reduce the Covid-19 incidence through a multi-pronged strategy.

ASSOCHAM has established itself as the knowledge fountainhead for the Indian industry, which is poised to reshape the dynamics of growth and development in the technology-driven knowledge-based economy.

ASSOCHAM is seen as a forward-thinking, proactive organisation that is preparing to meet the aspirations of corporate India in the new business world.

ASSOCHAM is working to improve India's business environment so that it is more competitive in the global market.

The Promoter Chambers and other Industry or Regional Chambers or Associations that are spread across the country give ASSOCHAM its strength.

Image Source


Also read: India’s GDP increases 20.1% in Q1 FY22 compared to FY21

According to an ASSOCHAM assessment, consumer confidence is improving in several key sectors of the economy, including contact services like hospitality, and construction and renovation activities have been picking up for the past few months, resulting in the return of migrant workers seeking gainful employment. Despite its low starting point, the Indian economy is expected to grow by double digits in the fiscal year 2021-22, keeping the catch-up mode alive. The recovery seen in the first quarter of this fiscal year should become a long-term trend. The overall situation concerning the pandemic should improve further as the government, along with the state governments of Kerala and Maharashtra, work together to reduce the Covid-19 incidence through a multi-pronged strategy. ASSOCHAM has established itself as the knowledge fountainhead for the Indian industry, which is poised to reshape the dynamics of growth and development in the technology-driven knowledge-based economy. ASSOCHAM is seen as a forward-thinking, proactive organisation that is preparing to meet the aspirations of corporate India in the new business world. ASSOCHAM is working to improve India's business environment so that it is more competitive in the global market. The Promoter Chambers and other Industry or Regional Chambers or Associations that are spread across the country give ASSOCHAM its strength. Image Source Also read: India’s GDP increases 20.1% in Q1 FY22 compared to FY21

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000